SAN FRANCISCO—Visa has rolled out Latin America’s first crypto cards using partner companies in Brazil and Argentina.
Teaming with fintech startups and firms in the region, Visa will issue cards that allow users to receive bitcoin cashback with every payment made, Finextra said.
In 2021, Visa partnered with Argentinian crypto exchange, Lemon Cash, to release Visa cards offering a 2% bitcoin cashback for every transaction. Visa is also set to launch Lemon Cash prepaid cards in Argentina, via an agreement with crypto trading platform Satoshi Tango, and Crypto.com cards.
Visa has fostered similar partnerships in Brazil with neobank Zro Bank and crypto-specializing firm Alterbank, Finextra noted.
Seeking to Expand
The payments giant is looking to expand crypto cashback cards throughout the region, including Mexico, Peru, and Colombia. Visa plans to build on crypto schemes in Latin America and the Caribbean by providing the regions with tools to expand digital currencies and manage the emerging NFT economy, Finextra reported.
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